Stop Lawmakers From Predicting Act

Key Points

• This bill stops members of Congress, their spouses, and their children from using websites that let people bet on what the government will do. These are called prediction markets, where people put money on things like who will win an election or if a certain law will pass.
• The rule covers any event that a lawmaker might hear about because of their job. This includes new laws, government decisions, or election results. It ensures that people in power cannot use secret or early information to make money through online betting.
• If a lawmaker or their family member breaks this rule, they will have to pay a fine. The fine is at least $2,000 or 10 percent of the bet's value, whichever is higher. They also have to give back any money they won from the bet.
• Lawmakers are not allowed to use their government office budget or campaign donations to pay these fines. The money from the fines goes back to the U.S. Treasury. This makes sure the punishment comes out of their own pockets rather than using taxpayer or donor money.

Impact Analysis

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